Our editors will be looking ahead today to these developing stories ...
Ex-development chief to report back to ICAC
Former secretary for development Mak Chai-kwong (pictured) is due to report back to the ICAC tomorrow for further questioning by the graft-busters over a cross-leasing scandal. Mak, assistant director of highways Tsang King-man, from whom Mak leased his flat in the 1980s, and their wives were arrested last month on suspicion of violating the Prevention of Bribery Ordinance by claiming government housing allowances. Mak resigned on July 12, only 12 days after his appointment by Chief Executive Leung Chun-ying.
Statistics bureau to report on mainland CPI
Last month, the National Statistics Bureau reported that the mainland's consumer price inflation (CPI) had cooled more than expected to its lowest level in nearly two and a half years, reflecting weak demand and pointing to more policy easing in the months ahead. The CPI rose 2.2 per cent in June from a year earlier, the slowest pace since early 2010, and down from a 3 per cent rise in May, according to the bureau. Analysts expect it will slide further, to 1.7 per cent, the lowest in 30 months.
Manchester United to disclose IPO goal
The company that owns Manchester United, and its shareholders the Glazer family, are scheduled to price their IPO for the English soccer team. The sale will offer 16.7 million shares at US$16-US$20 each and aims to raise as much as US$333 million, according to a regulatory filing. The New York IPO values the club at about US$4.50 per follower, according to data compiled by Bloomberg. The midpoint of the offering range would value the club at US$2.95 billion.